The dollar printed its lowest point on Thursday, day 44. That places the dollar deep in its timing band for a DCL
The dollar formed a swing low on Friday. It managed to close above the declining trend line and the 10 day MA to indicate the new daily cycle. The dollar will likely face resistance at the converging 50 day MA and the 200 day MA. The dollar is in a daily downtrend and will remain so unless it can close back above the upper daily cycle band.
After breaking bullishly higher high on Thursday, stocks failed to deliver bullish follow through on Friday.
Friday was day 40 for the daily equity cycle. That places stocks in their timing band for a DCL. Stocks formed a daily swing high on Friday. A close below the 10 day MA (4143.69) will signal the daily cycle decline. Stocks are currently in a daily uptrend and will remain so unless they close below the lower daily cycle band.
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